Business
ASX up 1.5pc; Banks soar in $14b rally; Home loan rates cut – The Australian Financial Review
The sharemarket advanced 1.7 per cent over the week as banks enjoyed a massive rally on Friday. Westpac’s 7 per cent surge helped steer the S&P/ASX200 Index 1.5 per cent higher on Friday as the government moved to relax responsible lending rules.
The Australian sharemarket enjoyed its best week in six as a powerful rally in bank stocks on Friday steered the benchmark to a 1.7 per cent gain for the week.
The S&P/ASX200 Index added 88.9 points, or 1.5 per cent, to 5964,9 points on Friday.
Shares of the big four banks surged on Friday on the back of reforms to the credit act to strip the corporate regulator of policing responsible lending.
Banks welcomed the changes, saying they would reduce the burden of regulation, cut red tape f…
-
Noosa News18 hours agoIncrease in extreme weather events poses ‘substantial risk’ to blood supplies, researchers warn
-
General22 hours agoGerman palliative care doctor with alleged ‘lust for murder’ accused of killing 15 patients
-
Noosa News8 hours agoAustralians tell ABC’s Your Say how they saw the second leaders debate
-
Noosa News13 hours agoManjimup engineer turns previously wasted avocados into liquid gold